Sri Lanka benefits from its strategic geographic position along a critical Indian Ocean trade route, strong base of industrial and cash crop exports, and rapidly expanding non-agricultural economy. High levels of public expenditure and rapid industrial expansion supported recent robust macroeconomic growth, averaging more than 6% between 2008...
Recent decades have seen a downward convergence in corporate tax regimes as advanced, emerging and developing economies moved to grab a bigger slice of the global investment pie. Headline corporate tax rates have fallen by 20 percentage points since the early 1980s. Alongside lower average rates, special tax incentives aimed at capturing...
Low government revenue is a key challenge facing sustainable macroeconomic growth in Sri Lanka, adversely affecting its finances and limiting the government’s ability to fund infrastructure and social initiatives. Tax reforms launched under an IMF loan agreement, coupled with the Inland Revenue Act (IRA) to improve tax collection, should offer...
To what extent will consumption and private investment be affected in the short to medium term by the IMF programme?
Rising public debt and spending rationalisation has brought public-private partnership (PPP) deployment to the forefront of economic and trade policy reforms, with the Vision 2025 development strategy emphasising increased utilisation and diversification of PPPs. Shared development frameworks are thus expected to expand beyond the mainstay...
Hailed by Chinese President Xi Jinping as “the project of the century”, the Belt and Road Initiative (BRI) promises to radically transform a vast swathe of the world’s trade and transport infrastructure. In doing so, it may also significantly change the way Asia does business with the world, and the way the world does business with Asia.
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